THE MODIGLIANI-MILLER THEOREM IN A DYNAMIC ECONOMY

被引：0
|
作者：
Takekuma, Shin-Ichi [1 ]
机构：
[1] Hitotsubashi Univ, Grad Sch Econ, Tokyo 1868601, Japan
来源：
HITOTSUBASHI JOURNAL OF ECONOMICS | 2010年 / 51卷 / 01期
关键词：
The Modigliani-Miller theorem; rational expectations; asset pricing; GENERIC EXISTENCE; EQUILIBRIUM; PRICES; MODEL;
D O I：
10.15057/18604
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
A dynamic economy with markets of equities and bonds is considered. The rational expectations equilibrium is defined in an asset pricing model and a condition under which the Modigliani-Miller theorem holds is shown. In an aggregate model the existence of a rational expectations equilibrium is proved.
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页码：43 / 55
页数：13
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